Roll on Tenancy Agreement

07 Aug Roll on Tenancy Agreement

Roll on Tenancy Agreement: A Comprehensive Guide

A roll on tenancy agreement is a type of lease that automatically continues on a month-to-month basis after the initial term has expired. This type of tenancy agreement is often used in situations where tenants want the flexibility to move out with relatively short notice, or where landlords want to avoid the hassle and expense of constantly drawing up new lease agreements.

If you`re considering a roll on tenancy agreement, here are some key things to keep in mind:

1. Understand the terms of the initial lease

Before signing onto a roll on tenancy agreement, it`s important to fully understand the terms of your initial lease. This will include details like the length of the lease, the amount of rent you`ll be paying, any security deposit requirements, and any restrictions on things like pets or subletting.

2. Know your notice requirements

With a roll on tenancy agreement, you`ll typically be required to give a certain amount of notice before moving out. This notice period will be outlined in your lease agreement – for example, you may need to provide 30 days` notice before ending the tenancy. Make sure you know exactly how much notice you`ll need to give, and plan accordingly.

3. Be aware of rent changes

In some cases, landlords may increase the rent on a roll on tenancy agreement. This is often done at the end of the initial lease term, but can also happen at any point during the tenancy (provided the landlord gives you proper notice). Make sure you`re aware of your landlord`s policies around rent increases, and factor this into your budget.

4. Keep your paperwork in order

Just because a roll on tenancy agreement is a more informal type of lease, that doesn`t mean you can let your paperwork slide. Make sure you have a clear, signed lease agreement in hand, and keep track of important documents like rent receipts and move-in/move-out checklists.

5. Consider other options

While a roll on tenancy agreement can be a good option for some renters, it`s not the only choice out there. Depending on your situation, you may want to consider other types of leases – such as fixed-term leases (which offer the security of a longer commitment), or periodic tenancies (which allow for an even greater degree of flexibility).

In conclusion, a roll on tenancy agreement can be a great choice for those who want the flexibility of a month-to-month lease. Just make sure you understand the terms of your initial lease, are aware of your notice requirements and any rent changes, keep your paperwork organized, and consider other options if necessary. With the right approach, a roll on tenancy agreement can be an excellent way to find the perfect rental situation for your needs.